Income Statement
Balance Sheet
Cash Flow
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 | FY 2020Dec 31, 2020 | FY 2019Dec 31, 2019 | FY 2018Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 683.0M | 688.0M | 578.0M | 526.0M | 887.0M | 429.0M | 348.0M | 257.0M |
| Revenue Growth % | -0.7% | 19.0% | 9.9% | -40.7% | 106.8% | 23.3% | 35.4% | -- |
| Total Revenue | 683.0M | 688.0M | 578.0M | 526.0M | 887.0M | 429.0M | 348.0M | 257.0M |
| Cost Of Revenue | 479.0M | 510.0M | 442.0M | 379.0M | 504.0M | 315.0M | 272.0M | 199.0M |
| Gross Profit | 204.0M | 178.0M | 136.0M | 147.0M | 383.0M | 114.0M | 76.0M | 58.0M |
| Gross Margin % | 29.9% | 25.9% | 23.5% | 27.9% | 43.2% | 26.6% | 21.8% | 22.6% |
| Total Operating Cost | 705.0M | 769.0M | 666.0M | 545.0M | 636.0M | 392.0M | 329.0M | 231.0M |
| Selling Expenses | 23.7M | 23.4M | 16.9M | 13.5M | 12.0M | 5.6M | 4.4M | 1.9M |
| Admin Expenses | 40.2M | 47.9M | 36.8M | 33.1M | 29.1M | 24.5M | 13.3M | 4.0M |
| Rd Expenses | 154.0M | 176.0M | 159.0M | 115.0M | 86.7M | 44.9M | 34.4M | 23.6M |
| Finance Expenses | 179,500 | -1.1M | -1.6M | -2.6M | -1.8M | -54,900 | -6,800 | 378,400 |
| Operating Income | 4.8M | -36.4M | -37.3M | 1.3M | 257.0M | 41.1M | 23.0M | 26.4M |
| Operating Margin % | 0.7% | -5.3% | -6.4% | 0.2% | 29.0% | 9.6% | 6.6% | 10.3% |
| Non Operating Income | 8,800 | 0.00 | 13,400 | 28,200 | 2,900 | 12,400 | 10,500 | 3.00 |
| Non Operating Expenses | 2.2M | 95,800 | 428,500 | 47,900 | 35,300 | 35,100 | 13,400 | 4.3M |
| Investment Income | 13.1M | 21.2M | 18.6M | 6.4M | 1.2M | 1.4M | -- | -- |
| Fair Value Change Income | -- | -- | 7.2M | 2.3M | -- | -- | -- | -- |
| Asset Disposal Income | 260,600 | 227,700 | 1.7M | 7,200 | -- | 106,600 | -- | -- |
| Asset Impairment Loss | 4.9M | 10.5M | 10.8M | 6.1M | 1.1M | 647,600 | 678,600 | 753,800 |
| Other Income | 13.3M | 22.8M | 23.0M | 11.8M | 4.8M | 2.1M | 3.8M | 250,700 |
| Income Before Tax | 2.6M | -36.5M | -37.7M | 1.3M | 257.0M | 41.1M | 23.0M | 22.1M |
| Income Tax | -2.7M | -20,600 | -1.5M | -27.7M | 19.9M | 2.8M | 1.4M | 1.1M |
| Net Income | 5.4M | -36.4M | -36.2M | 29.0M | 237.0M | 38.3M | 21.6M | 21.0M |
| Net Margin % | 0.8% | -5.3% | -6.3% | 5.5% | 26.7% | 8.9% | 6.2% | 8.2% |
| Net Income Attributable | 12.1M | -17.2M | -19.1M | 38.0M | 240.0M | 38.6M | 21.6M | 21.0M |
| Minority Interest | -6.7M | -19.3M | -17.2M | -9.0M | -2.2M | -239,300 | -- | -- |
| Eps Basic | 0.17 | -0.25 | -0.28 | 0.61 | 4.63 | 0.76 | 0.81 | 1.13 |
| Eps Diluted | 0.17 | -0.24 | -0.27 | 0.61 | 4.63 | 0.76 | 0.81 | 1.13 |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 | FY 2020Dec 31, 2020 | FY 2019Dec 31, 2019 | FY 2018Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Cash And Equivalents | 846.0M | 964.0M | 724.0M | 452.0M | 275.0M | 139.0M | 56.0M | 10.8M |
| Trading Financial Assets | -- | -- | 240.0M | 552.0M | -- | -- | -- | -- |
| Accounts Receivable | 129.0M | 122.0M | 79.8M | 59.1M | 67.6M | 62.9M | 54.1M | 34.5M |
| Notes Receivable | 4.5M | 9.9M | 8.6M | 8.2M | 2.2M | -- | -- | 12.4M |
| Notes And Accounts Receivable | 134.0M | 132.0M | 88.4M | 67.3M | 69.8M | 62.9M | 54.1M | 46.9M |
| Prepayments | 9.6M | 2.3M | 18.9M | 26.5M | 23.1M | 5.0M | 901,500 | 1.8M |
| Inventory | 152.0M | 169.0M | 160.0M | 157.0M | 119.0M | 39.3M | 37.9M | 18.3M |
| Total Current Assets | 1.2B | 1.3B | 1.3B | 1.3B | 504.0M | 282.0M | 177.0M | 95.0M |
| Long Term Equity Investment | -- | -- | -- | 7.5M | -- | -- | -- | -- |
| Fixed Assets | 120.0M | 86.2M | 69.4M | 55.9M | 10.5M | 7.9M | 1.9M | 1.4M |
| Fixed Assets Total | 120.0M | 86.2M | 69.4M | 55.9M | 10.5M | 7.9M | 1.9M | 1.4M |
| Construction In Progress | 43.3M | -- | -- | -- | -- | -- | -- | -- |
| Construction In Progress Total | 43.3M | -- | -- | -- | -- | -- | -- | -- |
| Intangible Assets | 42.4M | 5.9M | 6.8M | 3.0M | 3.0M | 1.1M | 673,400 | 569,500 |
| Long Term Deferred Expenses | 2.4M | 4.0M | 3.1M | 3.7M | 1.2M | 1.0M | 295,100 | 250,100 |
| Total Non Current Assets | 586.0M | 160.0M | 166.0M | 144.0M | 59.8M | 10.3M | 8.6M | 2.4M |
| Total Assets | 1.8B | 1.5B | 1.4B | 1.5B | 564.0M | 293.0M | 185.0M | 97.4M |
| Short Term Borrowings | 14,300 | 11.1M | -- | -- | -- | -- | -- | -- |
| Accounts Payable | 97.4M | 77.8M | 57.2M | 59.3M | 56.7M | 73.1M | 60.9M | 33.9M |
| Advance Receipts | -- | -- | -- | -- | -- | -- | 872,400 | 144,400 |
| Contract Liabilities | 2.6M | 2.4M | 3.7M | 2.7M | 8.9M | 290,700 | -- | -- |
| Total Current Liabilities | 141.0M | 131.0M | 121.0M | 95.7M | 104.0M | 86.0M | 73.5M | 46.4M |
| Long Term Borrowings | 175.0M | -- | -- | -- | 2.5M | 2.9M | 3.3M | -- |
| Total Non Current Liabilities | 252.0M | 10.4M | 12.4M | 15.9M | 8.2M | 3.0M | 3.3M | 43,500 |
| Total Liabilities | 393.0M | 142.0M | 134.0M | 112.0M | 112.0M | 89.1M | 76.8M | 46.4M |
| Paid In Capital | 69.8M | 69.0M | 69.0M | 69.0M | 51.8M | 51.8M | 10.8M | 5.0M |
| Capital Reserve | 1.1B | 1.0B | 1.0B | 1.0B | 149.0M | 138.0M | 53.8M | -- |
| Surplus Reserve | 34.9M | 34.5M | 34.1M | 30.3M | 24.4M | 2.1M | 7.1M | 4.8M |
| Retained Earnings | 232.0M | 220.0M | 238.0M | 261.0M | 229.0M | 11.8M | 36.8M | 41.3M |
| Minority Equity | -44.1M | -37.4M | -18.1M | -11.5M | -2.5M | -239,300 | -- | -- |
| Equity Attributable | 1.4B | 1.4B | 1.3B | 1.4B | 454.0M | 204.0M | 108.0M | 51.0M |
| Total Equity | 1.4B | 1.3B | 1.3B | 1.4B | 452.0M | 204.0M | 108.0M | 51.0M |
| Line Item | FY 2025Dec 31, 2025 | FY 2024Dec 31, 2024 | FY 2023Dec 31, 2023 | FY 2022Dec 31, 2022 | FY 2021Dec 31, 2021 | FY 2020Dec 31, 2020 | FY 2019Dec 31, 2019 | FY 2018Dec 31, 2018 |
|---|---|---|---|---|---|---|---|---|
| Cash From Sales | 566.0M | 524.0M | 409.0M | 433.0M | 893.0M | 240.0M | 196.0M | 163.0M |
| Tax Refunds Received | -- | 7.4M | 4.9M | 33.6M | -- | -- | -- | -- |
| Total Operating Cash Inflow | 613.0M | 558.0M | 435.0M | 487.0M | 902.0M | 245.0M | 200.0M | 165.0M |
| Cash Paid For Goods | 311.0M | 361.0M | 269.0M | 332.0M | 584.0M | 131.0M | 131.0M | 128.0M |
| Cash Paid To Employees | 142.0M | 134.0M | 126.0M | 106.0M | 59.0M | 36.6M | 25.1M | 13.6M |
| Taxes Paid | 17.2M | 5.8M | 10.8M | 22.4M | 51.8M | 20.1M | 13.2M | 10.4M |
| Total Operating Cash Outflow | 549.0M | 554.0M | 450.0M | 538.0M | 717.0M | 202.0M | 183.0M | 165.0M |
| Operating Cash Flow | 64.3M | 3.4M | -15.0M | -51.4M | 184.0M | 42.2M | 17.8M | -482,000 |
| Total Investing Cash Inflow | 2.7B | 3.0B | 4.2B | 1.8B | 531.0M | 364.0M | -- | -- |
| Total Investing Cash Outflow | 2.9B | 2.8B | 3.9B | 2.4B | 575.0M | 366.0M | 6.7M | 1.6M |
| Investing Cash Flow | -261.0M | 151.0M | 308.0M | -623.0M | -44.1M | -2.2M | -6.7M | -1.6M |
| Cash From Borrowings | 184.0M | 11.1M | -- | -- | -- | -- | 3.7M | -- |
| Dividends And Interest Paid | 614,900 | 252,500 | 581,700 | 40,000 | 146,700 | 168,300 | 23.7M | 110,000 |
| Debt Repayments | 11.1M | 29.1M | -- | 2.9M | 368,000 | 368,000 | 61,300 | 2.0M |
| Total Financing Cash Inflow | 196.0M | 26.7M | 42.9M | 879.0M | -- | 43.1M | 57.9M | 1.5M |
| Total Financing Cash Outflow | 17.7M | 42.0M | 63.8M | 28.0M | 4.0M | 536,300 | 23.8M | 2.1M |
| Financing Cash Flow | 179.0M | -15.3M | -20.9M | 851.0M | -4.0M | 42.6M | 34.1M | -610,000 |
| Net Change In Cash | -17.8M | 140.0M | 272.0M | 177.0M | 136.0M | 82.6M | 45.2M | -2.7M |
| Ending Cash Balance | 846.0M | 864.0M | 724.0M | 452.0M | 275.0M | 139.0M | 56.0M | 10.8M |
| Capex | 86.2M | 9.1M | 12.7M | 59.0M | 45.3M | 3.7M | 6.7M | 1.6M |